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of <h1>New Guidelines Issued for Blocking Electronic Credit Ledger Under CGST Rule 86A to Prevent Fraudulent Tax Credit Claims</h1> The circular issued by the Central Board of Indirect Taxes and Customs provides guidelines for disallowing the debit of electronic credit ledger under Rule 86A of the CGST Rules, 2017. It outlines the conditions under which a Commissioner or an authorized officer can restrict the use of input tax credit if it is believed to be fraudulently availed or ineligible. The guidelines emphasize the need for careful examination and objective determination based on evidence. It specifies the authority levels based on the monetary value of the credit and details the procedure for blocking and unblocking the credit, ensuring protection of revenue interests.
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